64 min listen
56: Are New Short-Term Rental Hosts in For a Rude Awakening in 2023?
FromOn The Market
ratings:
Length:
57 minutes
Released:
Nov 28, 2022
Format:
Podcast episode
Description
Short-term rentals have had a serious run over the past two years. As soon as interest rates dropped, everyone decided that buying a vacation rental or second home was the best move to make. This led to a surge in short-term rental investments across the US, as hosts began to almost outnumber guests. Now, vacation rentals are seeing a dramatic slowdown while a recession starts to shape, as Americans are less concerned about taking vacations and more about keeping their jobs.
So where is the vacation rental market headed? Were short-term rentals just a short-lived fad that could fade out faster than it took to be born? Or, is this a mere blip on the radar of vacation rentals, as guests still prefer hosts over hotels? We brought on Avery Carl, Jenny Yi, and Tony J. Robinson, three experienced short-term rental investors, to walk us through exactly what is happening in the market, what moves they’re making, and advice for getting through a recession.
We also talk about short-term rental regulations, which, surprisingly, many of the expert investors are in favor of. They speak on the saturation of “blue chip” vacation markets, and how some sleepier towns offer much better prospects for profit than the vacation markets most Americans know and love. If you own a vacation rental, plan on buying one, or just like staying at them, this episode gives you in-the-field opinions that most hosts won’t admit.
In This Episode We Cover
Who’s hurting and who’s thriving as the short-term rental market starts to lag
How to identify new markets that have low competition and high tourism potential
Short-term rental regulations and why it isn’t all bad news for hosts
How a 2023 recession could affect vacation rentals and vacation spending
Advice for new hosts as bookings and revenue starts to decline during a downturn
Vacation home price drops and whether or not this type of real estate is more vulnerable than the rest
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave’s BiggerPockets Profile
Dave’s Instagram
Real Estate Rookie Podcast
Tony’s Video on Short-Term Rental Recession Data
Book Mentioned in the Show
Short-Term Rental, Long-Term Wealth by Avery Carl
Connect with Avery, Tony, & Jenny:
Avery's Instagram
Avery's BiggerPockets Profile
Jenny's Instagram
Tony's Instagram
Tony's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-56
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
So where is the vacation rental market headed? Were short-term rentals just a short-lived fad that could fade out faster than it took to be born? Or, is this a mere blip on the radar of vacation rentals, as guests still prefer hosts over hotels? We brought on Avery Carl, Jenny Yi, and Tony J. Robinson, three experienced short-term rental investors, to walk us through exactly what is happening in the market, what moves they’re making, and advice for getting through a recession.
We also talk about short-term rental regulations, which, surprisingly, many of the expert investors are in favor of. They speak on the saturation of “blue chip” vacation markets, and how some sleepier towns offer much better prospects for profit than the vacation markets most Americans know and love. If you own a vacation rental, plan on buying one, or just like staying at them, this episode gives you in-the-field opinions that most hosts won’t admit.
In This Episode We Cover
Who’s hurting and who’s thriving as the short-term rental market starts to lag
How to identify new markets that have low competition and high tourism potential
Short-term rental regulations and why it isn’t all bad news for hosts
How a 2023 recession could affect vacation rentals and vacation spending
Advice for new hosts as bookings and revenue starts to decline during a downturn
Vacation home price drops and whether or not this type of real estate is more vulnerable than the rest
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave’s BiggerPockets Profile
Dave’s Instagram
Real Estate Rookie Podcast
Tony’s Video on Short-Term Rental Recession Data
Book Mentioned in the Show
Short-Term Rental, Long-Term Wealth by Avery Carl
Connect with Avery, Tony, & Jenny:
Avery's Instagram
Avery's BiggerPockets Profile
Jenny's Instagram
Tony's Instagram
Tony's BiggerPockets Profile
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-56
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!
Released:
Nov 28, 2022
Format:
Podcast episode
Titles in the series (100)
10: How to Prepare for a Recession (and Profit!) in 2022: One man knows how to prepare for a recession arguably better than anyone else. He’s been able to build wealth during multiple different economic cycles, not only surviving but thriving in the process. With decades of experience in real estate investing, advising, and mentoring, J Scott, author of Recession-Proof Real Estate Investing, stands as a testament that not everyone gets washed away when an economic tsunami comes crashing down.We spend some time asking J about how we got to the current economic stage we’re in, what the economy looks like today, and how we can prepare ourselves for the future of high interest rates, falling asset prices, and real estate steals of the century. If you’re feeling anxious about investing in 2022, J Scott is the guest you should listen to. For our due diligence portion of the show, we’ll be asking James Dainard, Jamil Damji, and Kathy Fettke all about recession prep and rebalancing your real e by On The Market